OceanFirst Financial (OCFC) Set to Announce Quarterly Earnings on Thursday

OceanFirst Financial (NASDAQ:OCFC) is scheduled to announce its earnings results after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $0.39 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

OceanFirst Financial (NASDAQ:OCFC) last announced its earnings results on Thursday, July 18th. The savings and loans company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $170.41 million during the quarter, compared to analyst estimates of $94.93 million. OceanFirst Financial had a net margin of 14.78% and a return on equity of 5.85%. During the same quarter last year, the business earned $0.46 earnings per share. On average, analysts expect OceanFirst Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

OceanFirst Financial Trading Up 1.9 %

NASDAQ OCFC opened at $18.78 on Wednesday. The company has a fifty day simple moving average of $17.40 and a two-hundred day simple moving average of $16.28. The stock has a market cap of $1.10 billion, a P/E ratio of 10.98 and a beta of 1.01. OceanFirst Financial has a 12-month low of $12.01 and a 12-month high of $19.29. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74.

Analyst Ratings Changes

Separately, Hovde Group raised their price target on shares of OceanFirst Financial from $19.50 to $21.50 and gave the stock an “outperform” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.90.

About OceanFirst Financial

OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers. It accepts money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, that includes brokered deposits to retail, government, and business customers.